The Bank of England may reject Revolut’s banking license due to balance sheet concerns, while ASX Ltd opts for a conventional technology for its software overhaul instead of blockchain. HashKey Group plans to raise funds at a $1 billion valuation, and Grayscale exploits a potential loophole with a new Bitcoin ETF filing. Ledger’s controversial service launch is deemed a PR failure, and Bit Digital moves operations to Iceland for regulatory risk mitigation. Researchers suggest CBDC systems can be used for cross-border payments, and Switzerland’s canton of Zug raises the limit for tax payments in BTC and ETH.
Search Results for: Tim Whiteley
ASX Abandons Blockchain Initiative: A Step Back or a Prudent Decision?
The Australian Securities Exchange (ASX) abandons blockchain integration plans for CHESS after a seven-year development period, deeming traditional technology solutions more suitable for their desired business outcomes. Despite successful prototypes and extensive testing, the initiative faced challenges, delays, and a pre-tax loss of approximately $170 million.
ASX Abandons Blockchain Plans: Balancing Innovation and Practicality in Securities Exchanges
The Australian Securities Exchange (ASX) recently abandoned plans to rebuild its software platform with blockchain after seven years of development. The decision highlights the ongoing uncertainty around this technology’s adoption within securities exchanges and the importance of balancing innovation with practicality.